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CA Sandeep Kanoi Finance ministry considering the proposal to increase deduction limit under section 80C of the Income Tax Act, 1961 to Lakh from existing limit of Rs. one Lakh. The Limit of deduction U/s. 80C of Rs. one lakh was fixed wef Financial Year 2005-06 by replacing the section 88 of Income Tax Act,1961. […]
CBI had registered a case against the Joint Commissioner of Income Tax Deepak J Mehta and ITO P N Srivastava on the complaint of the Owner of a firm engaged in business of fishery based at South 24 Parganas (West Bengal). It was alleged that both the public servants had demanded illegal gratification of Rs.25 lakhs from the Complainant for providing relief to his firm in avoiding penalty and additional tax liability.
Shri Narendra Singh Tomar Launches Online PF Code Allotment System The Union Minister for Steel, Mines and Labour & Employment, Shri Narendra Singh Tomar has launched the online registration system for allotment of Provident Fund Code Number, which can be used by establishments in New Delhi today. On the occasion, he said that his Government […]
Standard Operating Procedure on filing of Appeals/ Special Leave Petitions (SLPs) by the Income tax Department in the Supreme Court and related matters: instructions regarding- Revised Proforma B to Instruction No 4/2011 dated 09.03.2011- reg.
Like Every Year this Year also RBI has issued Master Circular on all the subjects which are updated till 30th June 2014. All these master circulars can be accessed directly on RBI Website at the following link :- http://rbi.org.in/scripts/BS_ViewMasterCirculardetails.aspx Banking Regulation Master Circular – Lead Bank Scheme Master Circular – Know Your Customer (KYC) norms […]
Tin-NSDL has released FUV 4.30, FUV 2.139 and RPU 4.0 which are effective from 28th June 2014 in respect of TDS /TCS statement filed or to be filed on or after 28th June 2014. The only change in revised RPU and FUV is Addition of New State code for TELANGANA.
The annual membership fee and certificate of practice fee for the year 2014-15 became due for payment w.e.f. 1st April, 2014. The last date for payment of fee was 30th June, 2014 which has been extended upto 31st August, 2014.
SEBI had vide circular no. CIR/MRD/DP/ 22 /2012 dated August 27, 2012 introduced the facility of Basic services Demat Account (BSDA) wherein inter alia it was mandated that one annual physical statement of holding shall be sent to the Beneficial Owners(BOs) having zero balance and Nil transaction.
Analysis of Income Tax Circular Requiring updation of Email address Mobile Number The Income Tax Dept. has mandated pre-filling of Mobile No. & Email ID before filing of return of an assessee vide its press release dated 26.06.2014. Further one Mobile No. and Email ID can not be used for more than 4 times for […]
RBI has been receiving references from banks and other agencies seeking clarification as well as posing certain issues concerning the various guidelines contained in the current Master Circular on Wilful Defaulters. These references have been examined and the Master
